Austrian oil and gas company OMV AG (OMV.VI) said Thursday gas and condensate has been discovered in the Sofiya-2 exploration well in the Mehar exploration license in Pakistan .

MAIN FACTS:

-The presence of hydrocarbons was proven through wireline logging and testing operations.

-OMV Maurice Energy Limited holds a 75% share in the exploration license.

-Further appraisal work will be required to confirm the size of the discovery.

-"It provides the opportunity to utilize the Mehar gas plant for processing of Sofiya gas and condensate, which should enable cost-effective and accelerated development of this new discovery," OMV Executive Board Member Jaap Huijskes said.

-The Mehar field development is in its mechanical completion phase with production expected to start in the last quarter of 2013.
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